Saudi Central Bank Grows Stock Holdings in Monolithic Power Systems, Inc. $MPWR

Saudi Central Bank boosted its holdings in Monolithic Power Systems, Inc. (NASDAQ:MPWR) by 84.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,266 shares of the semiconductor company’s stock after purchasing an additional 1,498 shares during the quarter. Saudi Central Bank’s holdings in Monolithic Power Systems were worth $4,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Monolithic Power Systems during the second quarter worth approximately $7,727,289,000. Corient Private Wealth LLC boosted its holdings in shares of Monolithic Power Systems by 3,719.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,047,173 shares of the semiconductor company’s stock valued at $1,855,476,000 after acquiring an additional 1,993,576 shares during the period. Norges Bank acquired a new stake in shares of Monolithic Power Systems in the fourth quarter valued at approximately $658,656,000. Bank of America Corp DE purchased a new position in shares of Monolithic Power Systems during the second quarter worth approximately $741,271,000. Finally, Legal & General Group Plc purchased a new position in shares of Monolithic Power Systems during the second quarter worth approximately $497,561,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Monolithic Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial raised their price objective on shares of Monolithic Power Systems from $1,805.00 to $1,889.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings lowered shares of Monolithic Power Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $1,575.00 target price on shares of Monolithic Power Systems in a report on Friday, July 31st. Finally, Needham & Company LLC upped their target price on shares of Monolithic Power Systems from $1,750.00 to $2,000.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Monolithic Power Systems presently has a consensus rating of “Moderate Buy” and an average target price of $1,731.42.

Monolithic Power Systems Price Performance

Monolithic Power Systems stock opened at $1,223.86 on Monday. The business has a 50 day simple moving average of $1,328.13 and a 200-day simple moving average of $1,353.45. Monolithic Power Systems, Inc. has a 12 month low of $830.00 and a 12 month high of $1,714.09. The stock has a market capitalization of $60.14 billion, a PE ratio of 75.04 and a beta of 1.66.

Monolithic Power Systems (NASDAQ:MPWR) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $6.50 earnings per share for the quarter, beating analysts’ consensus estimates of $5.87 by $0.63. The firm had revenue of $980.64 million for the quarter, compared to analyst estimates of $903.30 million. Monolithic Power Systems had a net margin of 24.41% and a return on equity of 22.31%. Monolithic Power Systems’s quarterly revenue was up 47.6% on a year-over-year basis. During the same period last year, the firm posted $4.21 EPS. As a group, equities research analysts anticipate that Monolithic Power Systems, Inc. will post 23.35 EPS for the current year.

Monolithic Power Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $8.00 annualized dividend and a dividend yield of 0.7%. Monolithic Power Systems’s payout ratio is presently 49.05%.

Insider Activity

In related news, EVP Maurice Sciammas sold 30 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,343.94, for a total value of $40,318.20. Following the completion of the sale, the executive vice president owned 1,119 shares in the company, valued at $1,503,868.86. This trade represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kuo Wei Chang sold 50 shares of Monolithic Power Systems stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $1,281.57, for a total value of $64,078.50. Following the completion of the sale, the director directly owned 515 shares in the company, valued at $660,008.55. This represents a 8.85% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160 shares of company stock worth $215,945. Insiders own 3.60% of the company’s stock.

About Monolithic Power Systems

Monolithic Power Systems (NASDAQ: MPWR) is a fabless semiconductor company that designs and supplies high-performance power management solutions for a broad range of electronic systems. Founded in 1997 and headquartered in Kirkland, Washington, the company focuses on analog and mixed-signal integrated circuits that convert, regulate and monitor electrical power with an emphasis on efficiency, integration and power density.

MPS’s product portfolio includes DC?DC switching regulators, power modules, power management ICs (PMICs), LED drivers, battery-management ICs, motor drivers, and AC?DC power solutions.